J.P. Morgan today launched its fourth alternatives ETF. The JPMorgan Long/Short ETF (JPLS) is an actively managed fund that uses various return factors to determine whether a security is attractive or not. It will take long positions in attractive stocks, while shorting those deemed unattractive.
JPLS comes with an expense ratio of 0.69% and lists on the NYSE Arca.
The factors that it relies on to evaluate the equities it takes positions in include value, momentum, size and quality. The fund’s managers take a global approach, investing in developed as well as emerging markets through equities and derivatives.
The largest fund in J.P. Morgan’s alternatives lineup is the JPMorgan Diversified Alternatives ETF (JPHF), with $179 million in assets under management.
There are several other long/short ETFs available, the largest of which is the First Trust Long/Short Equity ETF (FTLS), which has $149 million in assets.
Contact Heather Bell at [email protected]